Understanding consumers' willingness to use ride-sharing services: The roles of perceived value and perceived risk

In order to popularise the sustainable transport innovation of ride-sharing, it is critical for service providers and policymakers to understand the factors affecting ride-sharing willingness of potential users. This research explores the drivers of non-users' willingness to use ride-sharing services from the perspectives of perceived value and perceived risk, where perceived value and perceived risk are both conceptualised as formative second-order constructs constituted by their first-order value components and risk components. The data was collected in China through an online questionnaire from 378 respondents who had never used a ride-sharing platform. Partial least squares structural equation modelling (PLS-SEM) is used to verify the research model and hypotheses. The empirical results reveal that perceived value is positively associated with consumer willingness to participate in ride-sharing, but perceived risk is negatively related to consumers' ride-sharing intention. Contrary to expectations, perceived risk positively moderates the effect of perceived value on consumers' ride-sharing intention. This study contributes to a deeper understanding of the effects of consumers' value perception and risk perception on their acceptance of internet-based ride-sharing services. Measures to promote ride-sharing include maximising consumers' value of ride-sharing and their perception of value as well as reducing potential risks in ride-sharing process.